Woofun AI reports that RBCH, the largest external shareholder of Solana digital asset treasury company Solmate Infrastructure (SLMT), has initiated legal proceedings in the New York State Supreme Court against the firm's executive leadership and board of directors. The complaint cites severe breaches of fiduciary duty, misleading disclosures, and self-dealing practices that allegedly harmed shareholder value. RBCH, linked to RockawayX founder Viktor Fischer, holds a 22.74% stake in parent entity Brera Holdings and led Solmate’s $300 million PIPE financing in September 2025 with a $50 million commitment.

The lawsuit details specific grievances, including the board’s sale of shares during active lock-up periods and advisory agreements favoring insiders. It further alleges that directors Ron Sade and Keren Maimon purchased approximately 2.298 million Class B shares at $4.97 each, causing a 20% dilution for existing shareholders. Fischer attributes Solmate’s underperformance to poor management, noting the stock trades at a 50% discount to net asset value. With roughly 2 million SOL on its balance sheet, SLMT has plummeted 78% year-to-date, significantly underperforming the broader SOL market, which declined about 50% over the same timeframe.